Gen Z's answer to the focus group

This startup built Gen Z's version of the focus group

Knit is providing brands like Moët Hennessy and NASCAR with access to a network of GenZ consumers, who in turn provide feedback via 30-90 second videos. Call it qualitative research for the TikTok generation. The startup recently raised $3.55 million in seed funding as it looks to expand across age groups and geographies.

Forever21’s parent company sues Bolt but settles for becoming a shareholder

Authentic Brands Group made waves this spring when it sued fintech company Bolt over failing to deliver on the promises of its one-click checkout technology. A settlement announced this week brings a marked change in tone: ABG is now a shareholder in Bolt, and will continue to explore “broader opportunities” for collaboration. “We’re putting our differences behind,” said Bolt CEO Maju Kuruvilla, who replaced lightning rod founder Ryan Breslow in January. –TechCrunch

Prime Day 2022 predictions

What can Prime Days gone by tell us about this year’s event? There will likely be growth in gross sales, Amazon’s share of overall CPG dollars on the two days and the effectiveness of promotions. Meanwhile, consumers are still in search of deals, but must weigh that impulse against available discretionary funds during a time of inflation.

These new features show how Pinterest wants to grow ecommerce

In hiring Google’s former commerce chief as its new CEO and acquiring The Yes, Pinterest sent strong signals that it will be making an ecommerce push. A big feature release on Thursday offered a look at the tools that will help it get there: A shopping API, product tagging for Pins and video that allows items to be shown from multiple angles.

Will inflation drive consumers to make more sustainable purchases?

A need to stretch dollars could lead to a longer lifetime for goods. When it comes to clothing, GWI says shoppers are likely to seek out more “traditional and timeless pieces.” Thanks to fast fashion and constantly-shifting trends, GenZ and millennials built a habit of shopping often. Looking to the secondhand market could help them continue to keep up in a more cost-effective and environmentally friendly way. – Sourcing Journal 

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